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1.Market Observations, 2.financial advice, 2.Strategy

9 Feb 2019 (AFR) – Banking Royal Commission: now you will get what you pay for in financial advice

(9 February 2019, AFR, p30, by Ben Smythe)

‘As highlighted in the royal commission, people paid a lot of money for what they thought was financial advice. But in fact what they were paying for were expensive financial products (in-house superannuation, managed fund funds etc) with little or no financial advice that was specific to their personal and financial circumstances. With many of the major financial institutions exiting financial advice, at least now consumers who are prepared to pay a separate fee for independent and personal financial advice can be confident that they will get what they pay for.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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